Retail · Corpus Christi, Texas
South Coast Plaza
South Coast Plaza is financed with a $9.4M CMBS loan at 4.882% that reaches maturity on December 6, 2027, in 13 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $9,414,475
- Original balance (same notes)
- $11,000,000
- Interest rate
- 4.882% fixed
- Originated
- November 17, 2017
- Maturity
- December 6, 2027
- Payments
- Amortizing over 30 years
- Prepayment lockout ended
- January 5, 2019
- Prepayment premium ends
- September 5, 2027 (yield maintenance)
- Master servicer
- Trimont LLC
- Originator
- UBS AG
Status
- Payment status
- Current (code 0)
- Special servicing
- Transferred June 8, 2020, returned March 6, 2021
- Workout strategy
- Resolved
- Modified
- Yes, most recently July 6, 2020
- Defeasance
- Partly defeased
The property
- Address
- 1620 South Padre Island Drive, Corpus Christi, TX 78416
- Metro
- Corpus Christi, TX
- Rentable area
- 101,171 sq ft
- Built
- 1982
- Largest tenants
- Auto Zone; WELLMED BUSINESS OFFICE; Wellmed Medical Management
- Value at securitization
- $17.4M (Oct 2017)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.52x | 0.94x |
| Occupancy | 89% | 81% |
| Net operating income (annualized from 6 months) | $1.1M | $665K |
| Debt yield | 7.1% |
Debt yield here is the latest NOI divided by the balance held in the trusts below. If part of the loan sits outside them, the true figure is lower.
Watch flags
Computed from the UBS Commercial Mortgage Trust 2017-C7 filing for the reporting period ending September 11, 2026, filed with the SEC September 28, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- NOI down 20% or more from securitization
- Modified
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to September 2026).
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
What the filing shows
- Occupancy has fallen from 89% when the loan was securitized to 81%.
- Net operating income is 37% below the underwritten figure ($665K a year against $1.1M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.52x at securitization to 0.94x on the latest statements.
- At 0.94x, the property's reported NOI does not cover its debt service.
- The most recent valuation in the filing is $13.1M (November 24, 2020), against $17.4M at securitization.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $9.4M | Current | No | 0.94x | 81% |
| August 2026 | $9.4M | Current | No | 0.89x | 81% |
| July 2026 | $9.5M | Current | No | 0.89x | 81% |
| June 2026 | $9.5M | Current | No | 0.70x | 88% |
| May 2026 | $9.5M | Current | No | 0.70x | 88% |
| April 2026 | $9.5M | Current | No | 0.71x | 61% |
| March 2026 | $9.5M | Current | No | 0.71x | 61% |
| February 2026 | $9.5M | Current | No | 0.71x | 61% |
| January 2026 | $9.6M | Current | No | 0.71x | 61% |
| December 2025 | $9.6M | Current | No | 0.71x | 61% |
| November 2025 | $9.6M | Current | No | 0.75x | 54% |
| October 2025 | $9.6M | Current | No | 0.75x | 54% |
From each trust's ABS-EE filing for that month. Coverage and occupancy change only when the servicer reports new statements. If one trust holding a piece of the loan skipped a month, that month's balance reads low.
Special-servicing history
- Transferred to the special servicer June 8, 2020, returned to the master servicer March 6, 2021.
Transfer and return dates as reported in the filings of the past year; an earlier episode shows here only if a filing in that year still reports it.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| UBS Commercial Mortgage Trust 2017-C7 | 24 | $9,414,475 | Sep 2026 | SEC filing, September 28, 2026 |
Other Corpus Christi loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Crosswinds Apartments | Corpus Christi, TX | Multifamily | $10.1M | 4.35% | Nov 2027 | 1.90x | 94% | Current |
| Leopard Mobile Home Park | Corpus Christi, TX | Manufactured housing | $2.1M | 5.53% | Mar 2027 | 2.73x | 79% | Current |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.